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DOL warns on indemnification of brokers for IRA trading losses
  • Katten Muchin Rosenman LLP
  • USA
  • December 2 2011

In Advisory Opinion 2011-09A, the U.S. Department of Labor (DOL) indicated that a personal indemnification of a broker by the holder of an individual retirement account (IRA), for losses in excess of the value of the assets in a futures trading account established for the IRA, raises prohibited transaction issues under section 4975 of the Internal Revenue Code of 1986

Kevin M. Foley
  • Katten Muchin Rosenman LLP